Tesco Direct shuts

Tesco is to close its Tesco Direct website. The website displays a great many cycles and cycle accessories. The retailer said the website was a "small, loss-making part of the business" and had "no route to profitability". It will shut down on 9th July with the loss of 500 jobs.

"This decision has been a very difficult one to make, but it is an essential step towards establishing a more sustainable non-food offer and growing our business for the future," said Tesco CEO Charles Wilson.